Naval Ravikant
Quotes by Naval Ravikant
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Startups often want to control the timing of their financing announcement and prefer not to reveal amounts raised for competitive reasons. If more of the Form D information was confidential rather than public, compliance rates would jump dramatically.
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Cryptocurrencies are an emergent property of the Internet - almost a fifth protocol in the Internet suite. If Satoshi Nakomoto did not exist, it would still be necessary to invent them.
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Think of Bitcoin as a bank account in the cloud, and it's completely decentralized: not the Swiss government, not the American government. It's all the participants in the network enforcing.
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There's so much innovation going on, and there are lots of people funding that innovation, but there's very little innovation on that infrastructure for innovation itself, so we like to do that ourselves to help companies create more tech companies.
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We just think it's important that everybody have some technical training and background. Even though not everybody is coding but even our deals team and our designers all have GitHub accounts and they go into the code base.
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People come in. They are too gung ho. They invest too much money in things they don't know. They lose it and then they clam up and stop investing. Then they miss the actual boom. That's the nature of the market.
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People think about Bitcoin incorrectly. They think about it as currency or about gold or hoarding, speculation, about how much money do you make. When really, what it is is an API for programmable cash transactions.
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While the traditional banks and credit card companies lock down access to their payments infrastructure to a handful of trusted parties, Bitcoin is open to all.
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Be present. Be meditative. Form real friendships. Stay away from business networking events or friendships where there is always an underlying business angle.
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A block chain is a series of blocks. Each block is a series of computations done by computers all over the world using serious cryptography in a way that's very hard to undo.
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Just as the web democratized publishing and development, Bitcoin can democratize building new financial services. Contracts can be entered into, verified, and enforced completely electronically, using any third-party that you care to trust, or by the code itself.
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We are seeing a lot of cases where the startups are writing the term sheet, dictating the terms, selling common stock instead of preferred stock, where they don't give the investor veto rights or board seat or privileges, and they are really asking the investor -- why should I take your money when there is other money available.
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Any competent programmer has an API to cash, payments, escrow, wills, notaries, lotteries, dividends, micropayments, subscriptions, crowdfunding, and more.
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We can code wills, escrows, trusts, notaries, revokable charge backs, proof of contracts, intellectual property enforcement. What Wall Street does can be done in code by Bitcoin.
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Humans don't 'need' math-based cryptocurrencies when dealing with other humans. We walk slowly, talk slowly, and buy big things. Credit cards, cash, wires, checks - the world seems fine.
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China may censor YouTube. China may censor Twitter. They won't be able to censor Bitcoin. There's no central authority. There's no one you can go to and say, 'We're going to turn Bitcoin off.'
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